The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-06-07
FINANCE and COMMERCE.
HONEY 6 TO 8 PER CENT, NEW
YORK EXCHANGE 1.8 PREM.
Cotton Firm - Middling Cotton,
lie SALES Yesterday, I'm
important
APPEAL oFYIcE. I
MEMPHIs. TKNs., June 6, 1851.

The value of money is unchanged,
the bank rate for loans being to per cent.
the tone of the market being hardening ten
dency. There w.re no sales Of local securi-
ties at the stock Exchange today. and the
market was teatureless, with quotations not
materially changed.
The local cotton market is quoted firm;
middling llc and sales unimportant. At
New York spots closed quiet, middlinE
II T.l6c; futures STEADY, 8 to S points lower,
and June 1l.349ll $50. At New Orleans
spots were steady and advanced &c today,
middling 10Ac; failures steady, 2 to 4 poin 8
higher, June 10.7Ssl0.S0c. The Liverpool
marke; advanced led as TO middling up
lands and Orleans, middling being Cd; fut-
ures closed dull with an advance OF 2 to 8
points, June Old, sellers.
A leading Dew York cotton circular says
of the future market: at was a rather slow
and more or less heavy market, with buyers
getting most advantage on the old crop. The
raid was most severe on August, which, after
small gain to commence with, dropped 10
to II points, and shaded Saturday evea-
ing's some points. The new cop
which was offered carefully attracted some
attention and ma de only a slight shrinking"
The grocery market cor iinues firm, with
quotations unchanged. Sugar is quoted
stror g, and coffee active and firmer. TIE
home, potato crop ia being marketed freely,
buying at SO TO SO so loose, and selling frsm
store OF 81 rer barrel. New apples are buy
ing at 81 to So loose, and selling from store
at 50 50 psr barrel. Provisions and bread
stuffs are easy.
Chandler, Brown 4 Co., in their weekly
review of the Chicago grain market, and Of
date June 4th, say:
"As the weeks PASS the fac. is becoming
more and more apparent that this Is "buli
year in the WI eat market; that the state Of
affairs is not, in our opinion, attributable to
any manipulation by 80 called clique; the
bear element. aide by the bucket chop in,
two ~ ars untiI now the conditions of trade
are reversed. Capitalist. and shrewd OPERA
tors knowing the requirements of Europe
have made heavy inyestments in cash wheat
and are protecting their property by taking
the bulk of offerings AT current values. Lead
ing exporters believe thatlour eatire EXPORT
able surplus will be wanted abroad befors:an-
other harvest auce alone imported dur
ing the first eight months of tht current year
in wheat and -four nearly 26,0 900 bushels
against II, 90 900 bushels 70: the same time
agar ago. It's true that receipts are large
our visible supply may have increased some:
what during past two weeks, the "in visible"
has la gely decreased. Advicss from our
correspondents in the Northwest state that
The rush of wheat is about over aud cou atry
receipts will steadily decrease. W heat
values during the past few years have been
pounded down to the lowest level AID it 10
difficult iO6 many operators i%nIHSot to uEo
prices can be established, but #
Of Europe and the lateness of their harvest,
Butin view s Of he fisttering prospects Of he
new crop, remote futures may look high:
During the past week heavy holders have, st
times, sold freely, aud values have not only
heen we sustained, but closing prices are
the highest yet recorded. June, or cash
wheat, sol up today to 91Ac closing at &c,
and at no time sinCe holders commenced
buying wheat largely has the market looked
Sc strong 70 usSs at present Export sales
continue heavy and clearances large, the
latter at present restricted only by limited
vessel room. Prices have advanced to a
Point where reaction would DC put n2torsi'
but we regard short selling of the near fut-
ures extremely hazardous, but believe pur-
chases on evsry sharp break good for fair re-
turns.
receipt, ami brilliant prosrects for he new
crop induced heavy selling for both local
ard country account, but later decrease in
receipts, together with the strength and ad-
vance 10 wheat, checked the decline. and I'M
der good dsmaud from shorts, prices re-
acted and advanced, clo.ing 1Sc higher than
he closing OF last week"
IMPORTS.
Five bund bred and sixty rls bagging, 81
pkgs bacon, 423 pkgs boots and shoes, To- 0g
blu Lorp, 10 rkgs sheete, 32j ks ooneet w
SKIS cotton seed, cars cotton seed. l26 pkgs
dry goods, lO2 pkes eggs, 725 brls heur, 800
bales bay, 50 pkgs hats, 81 bid hogs, ~ hi
cattle, 255 pkRs ard, l26,000 feet lum Der, 81
pkgs liquors, $50 brls meal. 10 brls molasses
1000 bu oats, 10 cars pork sides, " pigs rice,
125 brls sugar, S26 pSgs tobacco.
ELEVATOR REPORTS.
The following shows the amount of grain
received, withdrawn and in store by regular
elevators, as reported to the Merchant kx-
change yesterday: COrn-received. 1898 bu ;
withdrawn, 47Sl bu; in store, Al ,66S bu. Oats
Withdrawn, 100 bu; in store. 4Z93 bu.